The London subsidiary of US-based WR Berkley Corporation is opening a branch office in Australia. WR Berkley Europe has submitted the paperwork and plans to begin underwriting from its Sydney branch as soon as APRA approves its financial services licence.

As reported in Sunrise Exchange News recently, the company's US parent is also opening a new reinsurance branch in Australia but says the two operations will run separately.

WR Berkley Europe has been trading in Australia since 2003. Christian Garling, the branch manager of the new local operation, says accessing the market directly will provide better service to clients and allow the group to further develop its Australian portfolio.

WR Berkley Insurance Australia will continue to concentrate on construction and engineering insurance. It also offers professional indemnity and some product and public liability lines.